SHAWNEE, KS– Fox Run Apartments, a 515-unit market-rate multifamily community in Shawnee, KS, has just secured a $15.5 million mortgage refinance, a little over one year after a fire severely damaged a portion of the complex. No one was seriously injured in the fire. Financing was based on a 10-year term and a 30-year amortization schedule.
Brent Blake, vice president of NorthMarq's Kansas City regional office, arranged the refinancing for the borrower, Fox Run Apartments, LLC, through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS Lender.
“This transaction is a straight forward refinance of a maturing loan,” said Blake. “The borrower is a repeat client of both NorthMarq and AmeriSphere.”
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